Harbour Capital Advisors LLC Buys Shares of 7,055 Palo Alto Networks Inc. (PANW)

Harbour Capital Advisors LLC Buys Shares of 7,055 Palo Alto Networks Inc. (PANW)

Harbour Capital Advisors LLC bought a new stake in Palo Alto Networks Inc. (NYSE:PANW) during the second quarter, Holdings Channel reports. The firm bought 7,055 shares of the network technology company’s stock, valued at approximately $865,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ST Germain D J Co. Inc. raised its stake in shares of Palo Alto Networks by 14.2% in the second quarter. ST Germain D J Co. Inc. now owns 5,540 shares of the network technology company’s stock worth $679,000 after buying an additional 690 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Palo Alto Networks by 4.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 104,653 shares of the network technology company’s stock worth $12,835,000 after buying an additional 4,464 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Palo Alto Networks by 8.6% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 27,718 shares of the network technology company’s stock worth $3,399,000 after buying an additional 2,193 shares during the period. Wunderlich Capital Managemnt raised its stake in shares of Palo Alto Networks by 83.7% in the second quarter. Wunderlich Capital Managemnt now owns 1,159 shares of the network technology company’s stock worth $142,000 after buying an additional 528 shares during the period. Finally, Stifel Financial Corp raised its stake in shares of Palo Alto Networks by 12.3% in the second quarter. Stifel Financial Corp now owns 25,905 shares of the network technology company’s stock worth $3,178,000 after buying an additional 2,841 shares during the period. Hedge funds and other institutional investors own 82.64% of the company’s stock.

Palo Alto Networks Inc. (NYSE:PANW) opened at 156.01 on Monday. Palo Alto Networks Inc. has a 52-week low of $111.09 and a 52-week high of $194.73. The firm’s 50 day moving average is $153.00 and its 200 day moving average is $139.91. The company’s market cap is $14.17 billion.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Tuesday, August 30th. The network technology company reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. Palo Alto Networks had a negative net margin of 16.39% and a negative return on equity of 34.28%. The company had revenue of $400.80 million for the quarter, compared to analysts’ expectations of $389.90 million. During the same quarter in the previous year, the company earned $0.28 earnings per share. Palo Alto Networks’s quarterly revenue was up 41.2% on a year-over-year basis. Analysts forecast that Palo Alto Networks Inc. will post $2.78 EPS for the current fiscal year.

A number of analysts have recently commented on the company. Zacks Investment Research lowered Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Monday, October 31st. Deutsche Bank AG reiterated a “hold” rating on shares of Palo Alto Networks in a report on Saturday, October 15th. Vetr upgraded Palo Alto Networks from a “buy” rating to a “strong-buy” rating and set a $178.24 target price on the stock in a report on Tuesday, October 11th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Palo Alto Networks in a report on Friday, September 30th. Finally, Wells Fargo & Co. reiterated an “outperform” rating on shares of Palo Alto Networks in a report on Monday, September 26th. Seven research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company. Palo Alto Networks presently has a consensus rating of “Buy” and an average price target of $181.48.

In related news, CEO Mark D. Mclaughlin sold 70,000 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $140.00, for a total transaction of $9,800,000.00. Following the transaction, the chief executive officer now owns 667,303 shares in the company, valued at $93,422,420. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carl M. Eschenbach sold 894 shares of the business’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $159.08, for a total transaction of $142,217.52. Following the transaction, the director now owns 2,940 shares in the company, valued at approximately $467,695.20. The disclosure for this sale can be found here. Corporate insiders own 4.80% of the company’s stock.

About Palo Alto Networks

Palo Alto Networks, Inc is a security company. The Company’s security platform consists of three elements: its Next-Generation Firewall, its Advanced Endpoint Protection, and its Threat Intelligence Cloud. The Company’s Next-Generation Firewall delivers application, user, and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.

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